Actuarial Intern

Summary : Under general direction and guidance, this role will perform actuarial analysis to support certificate planning forecasts, pricing, and operational objectives. This role will collaborate with multiple functions and interact with various levels of the organization.

Essential Duties and Responsibilities :

• Assist in the preparation of actuarial research and complex reports and experience studies.
• Help prepare schedules of statistics, financial statements, premiums, reserves, and benefits, documenting and verifying the factors used in related computations.
• Provide support to the Valuation & Appointed Actuary and others by performing analysis to assist in financial analysis, financial planning, and valuation process improvements.
• Assist in the calculation of actuarial-determined financial values and non-forfeiture values of new and existing plans of insurance.
• Present findings and exhibits to peers and others including technical and non-technical audiences and across functional teams.
• Assist in the creation and maintenance of actuarial tools.
• Complete special projects for the Valuation & Appointed Actuary as needed.
• Other duties as assigned.

Supervisory Responsibilities :

This job has no supervisory responsibilities.

Qualifications :

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skills, and / or abilities required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and / or Experience :

Active enrollment in a college or university with a focus on Actuarial Science, Math, or other related major, preferably having completed Freshman year. A minimum grade point average of 3.0 is required. Successful completion of a Society of Actuaries exam.

Certificates, Licenses, Designations, Registrations :

No certificates, licenses, designations, or registrations required for this role.

Core Competencies :

To perform the job successfully, an individual should demonstrate the following core competencies : Communicates Clearly and Effectively; Achieves Results; Builds Partnerships; Thinks Strategically; and Adapts to and Promotes Change.

Technical Competencies :

Knowledge and experience with spreadsheets and ability to apply actuarial-related problems. Strong mathematical and analytical ability to be able to analyze and resolve difficult problems. Strong written and verbal communication skills.

Mathematical Skills : Extensive knowledge of high-level mathematics including the ability to calculate figures and amounts such as discounts, interest, and commissions. Calculation of actuarial values, data analysis, and developing and maintaining actuarial models and reports. This includes help with reserve validation, reinsurance and experience reporting, and pricing model development and maintenance.

Computer Skills : To perform this job successfully, an individual should have knowledge of Microsoft Office (Excel, Power Point, Word). Ability to learn modeling software and administration systems. Experience with Microsoft Excel, Visual Basic for Applications (VBA) and / or R preferred.

Industry Competencies :

Knowledge of insurance industry and life insurance preferred.

Language Skills :

Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, clients, and customers.

Reasoning Ability :

Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.

Physical Demands :

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, or feel and talk or hear. The employee is occasionally required to stand, walk, reach with hands and arms and stoop, kneel, crouch, or crawl. The employee must occasionally lift and / or move up to 15 pounds.

Work Environment :

This position offers a hybrid work environment, allowing flexibility to work both from home and in the office. In-office work may vary based on business needs. While the exact frequency of in-office work is subject to change, the role requires adaptability to meet the evolving demands of the business area. The noise level in the office is moderate, providing a comfortable environment for focused work. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable on-site accommodation may be made to enable individuals with disabilities to perform the essential functions. The organization values work-life balance and strives to maintain a flexible and collaborative environment for all employees.

This is a 12-14 week temporary position that is not eligible for participation in Royal Neighbors of America Benefit plans.